GCA Altium advises peakwork on its Series A investment by TUI Ventures
peakwork was established in 2009 and is headquartered in Duesseldorf. With its innovative and unique global Player-Hub technology®, peakwork has set new standards in the sector, resulting in higher quality, quantity, accuracy and speed in producing and selling travel products. peakwork’s high-performing software combined with its decentralised partner network provide unmatched advantages for tour operators, distributors and the end consumer.
The two partners are aiming to establish a global market standard for the distribution of tourism services. peakwork’s Player-Hub technology and growing global partner network offer an ideal platform to meet the increasing requirements in tourism on a global level. TUI Group’s investment arm has acquired a 15.4 per cent stake in peakwork and has become the company’s first anchor investor. The company is planning to attract further investors. The investment was facilitated through a capital increase and the sale of primary shares from existing peakwork shareholders.
Frank Rosenberger, Member of the Group Executive Committee and TUI Group Director Strategy, commented: “Digitalisation is a key building block for accelerated future growth at TUI. The acquisition of the stake in peakwork marks our entry point into an innovative IT technology and a highly scalable business, aimed at further accelerating the pace of TUI’s growth. For a continued expansion of our portfolio of differentiated products and services, we need the technologies that offer these products and services to our customers in a fast, transparent and tailored manner through all distribution channels. At the same time we have the opportunity to develop the digital backbone of the tourism sector, which will be a benefit for the whole industry.”
Ralf Usbeck, chairman of the board of peakwork AG, added: “We have received many inquiries from all over the world to invest in peakwork and have finally decided to drive our growth further with strong strategic partners. We want to grow and develop our technology platform into a global market standard for the tourism industry. We are delighted to have won TUI as our first anchor investor, and are now planning to attract additional investors.”
All involved parties agreed not to disclose the terms of the transaction.